Copper smelting giant Aurubis has agreed to buy Belgian-Spanish recycling company Metallo Group for EUR 380 million (US$ 424 million).
Metallo specialises in recycling difficult materials with low metal content and has ‘attractive growth potential’, Aurubis says. The recycler processes about 220 000 tonnes of scrap and recycling materials annually at its plant in Beerse in Belgium and another 95 000 tonnes at Berango in Spain.
Metallo has more than 500 employees at the two main sites and generated revenues of around EUR 985 million in the fiscal year 2018.
‘Due to megatrends such as smart homes, e-mobility, digitalisation and renewable energies, both the quantity and the complexity of secondary raw materials will increase significantly,’ comments Aurubis ceo Juergen Schachler.
Schachler says he envisions an expansion into metals other than copper and Metallo’s recycling includes nickel, tin, zinc and lead as well as copper. ‘Metallo’s processing expertise and specific metallurgical know-how provide an excellent complement to Aurubis’ own strengths,’ the ceo adds.
The deal is subject to clearance by competition regulators including the European Union and closure is expected towards the end of this year.
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